Management of Confidential Data Exchange
In the world of cybersecurity, a lot of focus is paid to safeguarding sensitive data from being lost or exposed. However, many organizations fail to acknowledge that the data they manage can be vulnerable during the process of transfer. This is often the case when information is shared with partners and customers or business associates.
The security of confidential data exchanges https://dataroomhk.com/when-to-use-a-virtual-data-room is essential to ensure that breaches are not made and keep trust with stakeholders, customers and business partners. Security breaches that expose confidential information can cause irreparable damage on the reputation of a brand and trust. This is especially relevant in the field of healthcare in which HIPAA requires that healthcare facilities have a secure method to share patient information electronically.
Different industries are no different. Retailers and e-commerce platforms must ensure the security of their customers’ personal data when they purchase products online, and educational institutions must keep the student’s records confidential to prevent identity theft. And, the financial sector needs to ensure that sensitive documents are protected when they transfer files with business partners.
While safeguarding specific locations on servers, systems, or the cloud is an important aspect of managing sensitive information, this strategy can be inflexible for businesses that work regularly with third parties and must share confidential documents. Alternatively, businesses can rely on encrypted software solutions like those from Anjuna, CanaryBit, CYSEC, Decentriq and others that use encryption and zero-knowledge proofs to allow for confidentiality-preserving sharing.